Nvidia wins Modal business as Vera doubles AI agent work in tests
Stockwhiz•19/10/2026•10:28 ET
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Key Highlights
- ➤Modal will deploy Nvidia’s Vera processor alongside Intel and AMD chips
- ➤Vera tests doubled AI-agent work completed, prompting Modal’s adoption
- ➤Modal raised $750 million at a $15.75 billion valuation last week
- ➤Modal expects $1 billion in sales over the next year
- ➤Nvidia expects at least $20 billion in Vera sales this fiscal year
Expert Statements
Erik Bernhardsson, Chief Executive of Modal
“We'll test them when they're available”
Erik Bernhardsson, Chief Executive of Modal
“can always deploy whatever hardware performs best”
Modal plans to deploy Nvidia’s Vera central processor after tests showed it doubled AI agent work, giving Nvidia a customer that had previously relied entirely on Intel and AMD chips.
Modal rents computing power to AI developers and plans to use Vera to host agents, AI systems that can carry out long-running tasks for human users. Until now, the startup has run that work only on chips from Intel (INTC) and AMD (AMD).
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